Draghi calls on the European Council to take “ambitious” and “operational” decisions

Rome, 23 Mar Italian Prime Minister Mario Draghi today insisted on the need for “truly common management of the energy market” in an appearance before Parliament on the European Council that begins tomorrow, urging him to take “ambitious decisions that can be operational quickly”. Draghi enumerated the measures taken by his Government in view of the increase in the price of energy and fuel, such as intervention in excise duties on gasoline and diesel, which has led to a reduction of 25 cents per liter for a month, but stressed that “the answer in defense of consumers and businesses must also be european”. “We must achieve a truly common management of the energy market. Coordination between the Commission and the Member States on the diversification of gas supply, especially liquefied gas, is desirable,” he added. The president noted the need for “a shared approach to purchasing and storage, so that it strengthens bargaining power with supplier countries and protecting each other in the event of isolated shocks.” “The creation of a European maximum price for gas is at the heart of a discussion that we have started with the president (of the European Commission), Ursula Von der Leyen,” he added. He added that he also wants to “break the link between the price of gas and that of electricity, which is partly produced by alternative sources, whose price has little to do with that of gas.” “On all these fronts, I expect the European Council to make ambitious decisions that can be operational quickly,” he said. In his speech, he also noted the rise in food prices, which according to Eurostat data, increased by 5.2% in February compared to last year in Italy, and stated that this “requires immediate commitment, such as increasing arable land” and also diversifying sources of imports. “Strengthening the European economy also implies the protection of strategic industrial areas, which must be supported by adequate investments in innovation, scientific research and technology,” he added. Another priority indicated by Draghi was to “increase microchip production in Europe”, as a recent study by the International Monetary Fund estimates that bottlenecks in production chains cost the euro area around 2% of gross domestic product last year.